Solana in a loop? Why SOL’s $200 dream remains stuck
The post Solana in a loop? Why SOL’s $200 dream remains stuck appeared on BitcoinEthereumNews.com. Solana’s realized supply shows that nearly 160 million were bought between $144–$168. Can bulls generate enough momentum to break this feedback loop of distribution? Just a month ago, Solana [SOL] was eyeing a breakout above $180. Now, even after a sharp 7% bounce, it’s barely holding $150, marking a brutal 30% drawdown in under three weeks. While some may blame market-wide weakness, the data tells a sharper story. Among major caps, SOL’s decline is notably deeper, pointing to a structural breakdown rather than simple correlation decay. And that’s where it gets interesting. This persistent underperformance may not be entirely market-driven. Instead, it could be the result of a feedback loop — One keeping SOL stuck in a range, and retail caught in the middle. Solana faces strong underwater resistance Solana still hasn’t made it back to $200, not in late Q1, and not through all of Q2. And there’s a good reason for that. When SOL spiked to $180 last month, about 86% of the supply was in profit. Fast-forward 30 days, and that number has been cut in half. This shift suggests a growing wall of sell-side liquidity, making the $180 zone a heavy supply wall. That dynamic is reinforced by Solana’s UTXO Realized Price Distribution (URPD). It shows a concentrated cost basis between $144 and $168 with a peak cluster at $155–$165, right in line with current price levels. Source: Glassnode These bands make up nearly 30% of SOL’s realized price, with buyers acquiring around 160 million tokens between $144 and $168, most of which now sit in underwater positions. If SOL pushes toward $180, those holders begin to flip into profit, introducing increased sell pressure right at the breakout point. While a well-coordinated bullish push could clear this wall and open the path to $200, this is…
The post Solana in a loop? Why SOL’s $200 dream remains stuck appeared on BitcoinEthereumNews.com.
Solana’s realized supply shows that nearly 160 million were bought between $144–$168. Can bulls generate enough momentum to break this feedback loop of distribution? Just a month ago, Solana [SOL] was eyeing a breakout above $180. Now, even after a sharp 7% bounce, it’s barely holding $150, marking a brutal 30% drawdown in under three weeks. While some may blame market-wide weakness, the data tells a sharper story. Among major caps, SOL’s decline is notably deeper, pointing to a structural breakdown rather than simple correlation decay. And that’s where it gets interesting. This persistent underperformance may not be entirely market-driven. Instead, it could be the result of a feedback loop — One keeping SOL stuck in a range, and retail caught in the middle. Solana faces strong underwater resistance Solana still hasn’t made it back to $200, not in late Q1, and not through all of Q2. And there’s a good reason for that. When SOL spiked to $180 last month, about 86% of the supply was in profit. Fast-forward 30 days, and that number has been cut in half. This shift suggests a growing wall of sell-side liquidity, making the $180 zone a heavy supply wall. That dynamic is reinforced by Solana’s UTXO Realized Price Distribution (URPD). It shows a concentrated cost basis between $144 and $168 with a peak cluster at $155–$165, right in line with current price levels. Source: Glassnode These bands make up nearly 30% of SOL’s realized price, with buyers acquiring around 160 million tokens between $144 and $168, most of which now sit in underwater positions. If SOL pushes toward $180, those holders begin to flip into profit, introducing increased sell pressure right at the breakout point. While a well-coordinated bullish push could clear this wall and open the path to $200, this is…
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